Equity
Equity fell by 95% in 15 years.
Equity fell by 95% in 15 years.
Every financial year from 2011 to 2025 closed with a loss. 2019 was the heaviest.
€366,883 of the debts are secured on the company's own assets.
Between 2006 and 2025, 64% of the full-time equivalents disappeared.
Heads a group. Known shareholders 100%.
Board changed. Latest change 19-10-2026 · 7 in office.
The dashed line is the sector median: 0.3% across 44 companies (NACE 20, large).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 20, large). It does better than 5% of them on solvency, 38% on liquidity, 10% on profitability and 22% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Liquidity is insufficient, with a current ratio of 0.71 (0.89 in 2024), below 1. Short-term debt is 37% and cash 2.6% of total assets. 94.7% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 5 accounts on average 56 days before the deadline. In the sector (NACE 20), the median for financial year 2024 was 22 days before the deadline, and 26% of those companies filed late.
Shares in 33 companies, including AGFA AUSTRALIA PTY LTD and AGFA CANADA INC
Board & ownership| Company | ||||
|---|---|---|---|---|
| Agfa-Gevaert Mortsel | €423.3m | -12.0% | 5.3% | 1,420.4 |
| Soudal Turnhout | €768.5m | 4.0% | 26.2% | 1,148.1 |
| CAPSUGEL BELGIUM Bornem | €307.8m | 22.9% | 54.9% | 473.8 |
| SOLUTIA EUROPE Ghent | €436.0m | 7.9% | 82.3% | 333.3 |
| FUJIFILM ELECTRONIC MATERIALS (EUROPE) Beveren-Kruibeke-Zwijndrecht | €248.8m | 7.7% | 70.7% | 225 |
| Taminco Ghent | €527.2m | 14.8% | 23.2% | 405.3 |
| RECTICEL Brussels | €128.3m | 5.8% | 87.8% | 226.5 |
Grey: the largest companies of the sector (chemicals (NACE 20)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Agfa-Gevaert: manufacture of chemicals and chemical products (NACE 20590). They are comparable in size and age: total assets between €269m and €1.6bn, founded between 1896 and 2003.
Agfa-Gevaert has existed since 1964. Turnover fell from €2.02bn in 2006 to €910.5m in 2007 and staff from 3,944.6 to 2,648.4 full-time equivalents.
Free Float holds 65.22% of the shares. In 2026, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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